Statoil Chief Say More Oil Deals Likely After Shell-BG Merger

The chief executive officer of Norway’s largest oil producer said the industry will probably see more deals after Royal Dutch Shell Plc’s $70 billion to BG Plc, especially if crude prices remain depressed.

“All player are looking now at opportunities,” Eldar Saetre, said in Washington on Friday. “There could be more deals. It depends on the oil price, if prices stay low players will get distressed and look for deals.”